Gas prices fall, students still feel financial pinch

by Amby Sarabia
Staff Writer

As the price of gas continues to drop with the conclusion of the war in Iraq, some commuters are barely able to notice the lower prices, although the price drop is appreciated.

According to a survey taken by gas analyst Trilby Lundberg, editor of the Lundberg Survey, the national average of regular gasoline fell 6.37 cents to approximately $1.55 a gallon May 2.

The information was received after surveying 8,000 gas stations.

"We have seen a drop of more than 18 cents per gallon over the last six weeks," Lundberg said.

The drop in prices can be attributed to the end of the cold season in the East Coast, increased production in Iraq because of the end of the war and the United States' choice of importing more oil from other countries.

Lundberg also said that the Severe Acute Respiratory Syndrome epidemic could help keep gas prices low as the virus dampens travel plans.

The price in crude oil sold by the barrel also helps to lower prices at the pump. Prior to the war, a barrel of crude oil was $40, and the price is now near $25, Lundberg said.

The average price for gas is $1.70, Lundberg said.

Closer to home, the lowest gas prices can be found at the Mobil gas station located at Arrow Highway and D Street here in La Verne, as well as on the Shell station on Foothill Boulevard.

"The new prices don't make much of a difference for what I spend on gas," said Luis Garcia, senior and owner of a Chevy Tahoe. "At the most, I spend $5.00 less."

Looking toward the summer, Lundberg said the prices may continue to fall based on the system of supply and demand.

"Crude oil is down, and gasoline supplies are up," Lundberg said. "That combination brings lower prices at the pump."

"I hope they continue to fall," said Michelle Fletes, a commuter from West Covina, Calif. "The prices still affect me in the same way; it's only a couple of dollars less."

"The downward gas price could continue," Lundberg said. "There is reduced uncertainty now."

Gas prices could rise or fall throughout the summer depending on the situation in Iraq and in Venezuela, since the Venezuelan strike is not yet over.